An instrument issued by a bank, at the request of an importer, in which the bank promises to pay a beneficiary upon presentation of specified documents is a
A. time certificate of deposit
B. time draft
C. sight draft
D. letter of credit
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The following is an example of Radio Shack hedging its foreign currency risk
A. needing to pay 9,000 yen per radio to its suppliers in a month, Radio Shack makes a forward exchange deal to buy yen
B. needing to pay 9,000 yen per radio to its suppliers in a month, Radio Shack makes a forward-exchange deal to sell yen.
C. needing to pay 9,000 yen per radio to its suppliers in a month, Radio Shack buys yen at a spot-exchange 1 month from now.
D. needing to pay 9,000 yen per radio to its suppliers in a month, Radio Shack sells yen at a spot-exchange 1 month from now.
A foreign currency ________ contract calls for the future delivery of a standard amount of foreign exchange at a fixed time, place, and price.
A. futures
B. forward
C. option
D. swap
Financial derivatives are powerful tools that can be used by management for purposes of
A. speculation
B. hedging
C. human resource management
D. A and B above
Domestic currencies of one country on deposit in a second country are called ________.
A. export deposits
B. eurocurrencies
C. import deposits
D. forocurrencies
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